Horizon Investments LLC Has $4.81 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Horizon Investments LLC has increased its position in Palo Alto Networks by 66.8%, acquiring an additional 11,299 shares in the first quarter, bringing its total holdings to 28,207 shares valued at approximately $4.81 million.
• Palo Alto Networks recently reported earnings of $0.80 EPS, exceeding analysts' expectations of $0.77, alongside a revenue of $2.29 billion for the quarter.
• The company's stock price is currently down 1.9%, opening at $173.55, with a market capitalization of $115.72 billion and a consensus rating of "Moderate Buy" from analysts.

Horizon Investments LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 66.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,207 shares of the network technology company's stock after purchasing an additional 11,299 shares during the quarter. Horizon Investments LLC's holdings in Palo Alto Networks were worth $4,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PANW. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC increased its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares during the period. Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $29,000. Finally, HWG Holdings LP acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at $31,000. Institutional investors own 79.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Northland Securities lowered their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lowered their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Guggenheim reaffirmed a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $217.01.

Palo Alto Networks Stock Performance

PANW traded up $3.54 on Friday, hitting $177.09. 9,535,538 shares of the company were exchanged, compared to its average volume of 11,219,376. Palo Alto Networks, Inc. has a 12 month low of $144.15 and a 12 month high of $210.39. The company has a market cap of $118.08 billion, a PE ratio of 101.19, a PEG ratio of 4.34 and a beta of 0.94. The stock's fifty day moving average is $192.00 and its 200-day moving average is $186.42.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $171.58, for a total transaction of $20,722,402.92. Following the sale, the executive vice president owned 206,718 shares in the company, valued at approximately $35,468,674.44. This represents a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock valued at $126,423,337 in the last ninety days. Insiders own 2.50% of the company's stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.